Be smart with SIB Premium SMART
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CD Premium Smart A/c – Features/Terms & Conditions
A Business Banking A/c tailor made with FREE & FLEXIBLE limits
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A. Minimum Balance & Non – Commitment Fee:
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Particulars
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Features/Service charges/Remarks
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1. Average Monthly Balance (AMB)
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Rs. 50,000/- in Metro & Urban centers.
Rs. 25,000/- in Rural & Semi-Urban centers.
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2. Non-commitment fee if AMB is not maintained.
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Rs.500/- per month. However the basic flexible free limits will be permitted without any additional service charges.
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B. Free services:
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- Parent branch transfer/ clearing transactions both debit as well as credit transactions.
- Non parent branch clearing / transfer - credit transactions.
- Non parent branch clearing / transfer - debit transactions.
- Local cheque / ECS clearing facility.
- Fund transfer through Net Banking within the bank.
- Automated SMS alerts to one registered mobile number.
- Registration / Modification / Execution of Standing Instructions. (Actual postage & remittance charges extra, if applicable)
- Transaction charges (no folio charges)
- Duplicate A/c statement print as per request.
- Duplicate / Cancellation / Revalidation charges for Demand Drafts.
- A/c balance certificate.
- Power of Attorney / Mandate – Registration / Modification.
- Photo attestation.
- Duplicate interest certificate as per request.
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C. Flexible Free Limits: Method of calculation: For every additional Rs.25,000/- maintained towards AMB, the customer will be eligible for additional free limits @ 25% of the following three basic free limits. For example, if the AMB for a particular month is Rs.80,000/-, then the eligible free limits will be 125 cheque leaves,38 RTGS/NEFT transactions, Rs.37.50 lakh towards monthly clearing / transfer credit from non parent branches and so on. If the AMB maintained during a particular month is Rs. 5 lakh & above, then these 3 services will be offered free of charges and without any upper limits. Free unlimited cash remittance applicable to CD Smart accounts keeping average minimum balance of Rs. 5 Lakhs and above is discontinued w.e.f 01.10.2017
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Particulars
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Free limits / Features / Service charges (These service charges for a particular month will be recovered during the month end, based on the AMB maintained in the A/c)
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1. Cheque facility - both ordinary as well as At Par Payable
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100 leaves free per month. Rs.3/- per additional leaf.
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2. Purchase of Demand Draft / Payment orders
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Rs. 5 lakh & 30 instruments free per month. Rs.1/- for every additional Rs.1, 000/- & Rs.10/- for every additional instrument.
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3. RTGS/NEFT fund transfer
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Inward: Free
Outward: first 30 RTGS/NEFT transactions free per month. Rs.5/- per every additional Rs.1 lakh.
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D. Other service charges:
If the AMB maintained during a particular month is Rs.5 lakh & above, then these 4 services will be offered free of charges and without any upper limits. Other bank service charges if any will be collected extra.
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Particulars
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Service charges / Remarks (These service charges for a particular month will be recovered during the month end, based on the AMB maintained in the A/c.)
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1. Cheque stop payment
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Rs.50/- per instrument.
Rs. 200/- for a batch of more than 3 instruments at a time.
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2. Local clearing return (Cheque / ECS) issued by the customer)
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Rs. 4/- per Rs. 1000/- with a minimum of Rs. 200/- and a maximum of Rs. 800/- per cheque/ECS mandate returned
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3. Local clearing return (instruments deposited by the customer)
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Rs.50/- per instrument.
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4. Outstation cheque collection return
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Rs.50/- per instrument. Other Bank Charges extra.
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Cash Handling Charges applicable
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1.Cash withdrawal at Branches
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FREE unlimited
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2. Cash deposit at branches
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a.Rs.3.00 lakh per MONTH
b.15 times the AMB (Average Monthly Balance) of previous month.
c. Charges for additional remittances (Parent
Branch& non parent Branches) – Rs 175/ per lakh.
d.All CD Accounts, including CD Smart (by
BANKS, NBFCs , NIDHI, Kuri Companies etc.where financial service is the line of activity - 8 times of the AMB of previous month
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